QuantumScape (NYSE:QS) Trading 2.7% Higher – What’s Next?

QuantumScape Corporation (NYSE:QS) traded up 2.7% during trading on Friday . The stock traded as high as $7.09 and last traded at $6.99. 19,903,407 shares changed hands during mid-day trading, an increase of 41% from the average session volume of 14,153,750 shares. The stock had previously closed at $6.80.

Analyst Ratings Changes

Several brokerages recently issued reports on QS. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.19.

QuantumScape Trading Up 2.7%

The stock has a market capitalization of $3.90 billion, a P/E ratio of -7.68 and a beta of 4.42. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $4.56 and a 200 day moving average price of $4.69.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the prior year, the business earned ($0.24) earnings per share. On average, research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fritz Prinz sold 61,523 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director directly owned 231,530 shares of the company’s stock, valued at $912,228.20. This trade represents a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohit Singh sold 325,000 shares of the firm’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.21, for a total value of $2,343,250.00. Following the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $11,836,736.31. This trade represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 747,951 shares of company stock worth $4,629,048. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently made changes to their positions in QS. Vanguard Group Inc. increased its stake in QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after acquiring an additional 2,911,362 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of QuantumScape by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company’s stock valued at $30,538,000 after buying an additional 28,073 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of QuantumScape by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock valued at $30,183,000 after buying an additional 2,066,844 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Finally, Norges Bank purchased a new position in QuantumScape in the fourth quarter valued at $17,762,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.